Grad School Loans - pros/cons between Federal PLUS loan vs. a private loan?

Federal student loans generally have lower interest rates and more generous repayment options than private student loans. In the case of GradPLUS, the interest rate is fixed - most private student loans have variable interest rates, which means the rate could rise considerably in the future. Also, most private loans are credit based and the interest rate depends on your credit history. Even though GradPLUS also requires a credit check, the acceptance rate is generally higher, as the loan is guaranteed by the government so is less risk to the lender.

the only difference between the two is a credit check. Federal plus does not require a credit check Once the money has been disburse, it will accure interest; like a private loan. The loan amount is variable, meaning, it will change each year. A federal plus loan is easlier to deal with or you could choose a private lender that will give you money directly to you. Either way interest will continue to accrue to principle. I hope this is helpful.

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